“The newspaper industry is changing, and that change is being driven by readers,” said Lebedev.

“They’re showing us that the future is digital. This decision preserves the Independent brand and allows us to continue to invest in the high quality editorial content that is attracting more and more readers to our online platforms.”

Lebedev did not reveal how many of the 150 full-time staff will lose their jobs, although ESI Media said there will be 25 new “digital-content roles.”